DGL Group Reports Strong Financial Performance for FY22, Expects Continued Growth in FY23
Specialty chemical formulation and manufacturing company, DGL Group Limited, delivers impressive revenue and earnings growth
DGL Group Limited (ASX: DGL), an Australian company specialising in specialty chemical formulation and manufacturing, warehousing and distribution, and waste management and recycling solutions, has announced its strong trading performance for the financial year ended 30 June 2022 (FY22). The company's revenue and earnings before interest, tax, depreciation, and amortisation (EBITDA) are expected to be in the range of $210 million to $215 million and $29 million to $30 million, respectively, representing a substantial growth of approximately 20% and 25% compared to FY21.
Driving Factors for Success
The remarkable growth in revenue and EBITDA can be attributed to several key factors. Firstly, the company experienced increased demand for its products and services across all segments. Furthermore, the successful integration of acquired businesses has played a crucial role in expanding the company's capabilities and customer base. DGL Group also achieved operational efficiencies and synergies by optimizing its operations and leveraging its diverse product portfolio. Additionally, the company's investment in organic growth initiatives has further contributed to its impressive performance.
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Positive Outlook for FY23
Looking ahead, DGL Group remains positive and optimistic about its future prospects. With a diversified portfolio of products and services, strong customer relationships, and strategic acquisitions and partnerships, the company is well-positioned to continue its growth trajectory in FY23. Leveraging its innovation capabilities and supported by a robust balance sheet, DGL Group aims to capitalise on emerging opportunities and maintain its position as a leader in the specialty chemicals industry.
Acknowledgment of Support
DGL Group extends its heartfelt gratitude to its shareholders, suppliers, and customers for their continuous support. Their contributions have been instrumental in enabling the company's remarkable achievements. The full-year results for FY22 will be released on 31 August 2022, providing a comprehensive overview of DGL Group's financial performance.
Disclaimer: This article provides a summary of the original DGL Group announcement and is not a substitute for the full text of the announcement.
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